National Petrochemical: Foreign Companies Eyes Petchem Investments in Iran

Iran`s outstanding investment security and advantages in petrochemical sector including abundant feedstock supply and skilled domestic labor entice foreign investors into considering serious presence in the OPEC member`s petrochemical sector.

For sure developing downstream industries is considered as a best way to secure economic growth in Iran and boosting petrochemical exports would reduce sale of crude oil and gas.

Iran`s outstanding investment security and advantages in petrochemical sector including abundant feedstock supply and skilled domestic labor entice foreign investors into considering serious presence in the OPEC member`s petrochemical sector.

Recently, the Islamic Republic of Iran is expanding its petrochemical sector at a rapid pace.

Thanks to Iran`s petrochemical output, which was below three million tonnes in the early years following the 1979 Islamic Revolution, the countrys petrochemical output has exceeded 60 million tonnes a year.

Fortunately, petrochemical industry is one of Iran`s priorities to attract foreign investment.

Ministry of Petroleum has recently taken great strides with regard to attracting foreign investment, among which are the development of a new model for oil and gas contracts, signing big oil deals, attracting investment into jointly owned fields, and cooperating with foreign companies.